Local real estate is increasingly in demand as Jews from the US, UK, France and other countries snap up property in Israel. Many of these foreigners buy some of the very high end properties on the market: apartments worth over $1,000,000 and multi-million dollar single-family homes with gardens. As a result, prices are rising steeply.
Some potential overseas real estate buyers have the necessary funds to buy property outright, while others do not. There are still others who can afford to buy property, but do not want to see their money tied to brick and mortar and prefer to invest in a business venture which will yield more than interest rates will cost. These types of buyers want mortgages, and if they have good credit records, will attain them.
